_____________________
| OMB APPROVAL |
|_____________________|
|OMB NUMBER: 3235-0145|
UNITED STATES |EXPIRES: |
SECURITIES AND EXCHANGE COMMISSION | December 31, 2005|
Washington, D.C. 20549 |ESTIMATED AVERAGE |
|BURDEN HOURS |
|PER RESPONSE ...11 |
|_____________________|
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 8)*
Insurance Management Solutions Group, Inc.
____________________________________________________________
(Name of Issuer)
Common Stock, par value $.01 per share
_____________________________________________________________
(Title of Class of Securities)
458045101
____________________________________________________________
(CUSIP Number)
Bankers Insurance Group, Inc.
Attn: Robert G. Southey, Esq.
Secretary and General Counsel
360 Central Avenue
St. Petersburg, Florida 33701
(727) 823-4000
With a copy to:
Thomas J. Dougherty, Esq.
Skadden, Arps, Slate, Meagher & Flom LLP
One Beacon Street
Boston, MA 02108
(617)573-4800
____________________________________________________________
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
April 21, 2003
____________________________________________________________
(Date of Event which Requires Filing of this Statement)
Page 1 of 17 Pages
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition that is the subject of this Schedule 13D, and is filing
this schedule because of Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g),
check the following box. [ ]
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Section 240.13d-7 for
other parties to whom copies are to be sent.
* The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
SCHEDULE 13D
-------------------------------------------------------------------------------
CUSIP No. 0001063167 Page 2 of 17 Pages
-------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
Bankers Insurance Group, Inc.
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) (X)
(b) ( )
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF, WC
-------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) ( )
-------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Florida
-------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
0
SHARES ----------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
8,354,884 (see item 5)
OWNED BY ----------------------------------------------------
9 SOLE DISPOSITIVE POWER
EACH
0
REPORTING ----------------------------------------------------
10 SHARED DISPOSITIVE POWER
PERSON
8,354,884 (see item 5)
WITH
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,354,884 (see item 5)
-------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES ( )
-------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
68.1%
-------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
HC
-------------------------------------------------------------------------------
SCHEDULE 13D
-------------------------------------------------------------------------------
CUSIP No. 0001063167 Page 3 of 17 Pages
-------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
Bankers Insurance Company
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) (X)
(b) ( )
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
-------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) ( )
-------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Florida
-------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
0
SHARES ----------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
3,528,455 (see item 5)
OWNED BY ----------------------------------------------------
9 SOLE DISPOSITIVE POWER
EACH
0
REPORTING ----------------------------------------------------
10 SHARED DISPOSITIVE POWER
PERSON
3,528,455 (see item 5)
WITH
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,528,455 (see item 5)
-------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES ( )
-------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
28.7%
-------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IC
-------------------------------------------------------------------------------
SCHEDULE 13D
-------------------------------------------------------------------------------
CUSIP No. 0001063167 Page 4 of 17 Pages
-------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
Bankers Security Insurance Company
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) (X)
(b) ( )
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
-------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) ( )
-------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Florida
-------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
0
SHARES ----------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
821,429 (see item 5)
OWNED BY ----------------------------------------------------
9 SOLE DISPOSITIVE POWER
EACH
0
REPORTING ----------------------------------------------------
10 SHARED DISPOSITIVE POWER
PERSON
821,429 (see item 5)
WITH
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
821,429 (see item 5)
-------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES ( )
-------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.7%
-------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IC
-------------------------------------------------------------------------------
SCHEDULE 13D
-------------------------------------------------------------------------------
CUSIP No. 0001063167 Page 5 of 17 Pages
-------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
Bonded Builders Service Corp.
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) (X)
(b) ( )
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
-------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) ( )
-------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Florida
-------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
0
SHARES ----------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
5,000 (see item 5)
OWNED BY ----------------------------------------------------
9 SOLE DISPOSITIVE POWER
EACH
0
REPORTING ----------------------------------------------------
10 SHARED DISPOSITIVE POWER
PERSON
5,000 (see item 5)
WITH
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,000 (see item 5)
-------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES ( )
-------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.0%
-------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IC
-------------------------------------------------------------------------------
SCHEDULE 13D
-------------------------------------------------------------------------------
CUSIP No. 0001063167 Page 6 of 17 Pages
-------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
Bankers Financial Corporation
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) (X)
(b) ( )
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
-------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) ( )
-------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Florida
-------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
0
SHARES ----------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
8,354,884 (see item 5)
OWNED BY ----------------------------------------------------
9 SOLE DISPOSITIVE POWER
EACH
0
REPORTING ----------------------------------------------------
10 SHARED DISPOSITIVE POWER
PERSON
8,354,884 (see item 5)
WITH
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,354,884 (see item 5)
--------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES ( )
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
68.1%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
--------------------------------------------------------------------------------
SCHEDULE 13D
-------------------------------------------------------------------------------
CUSIP No. 0001063167 Page 7 of 17 Pages
-------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
Bankers International Financial Corporation
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) (X)
(b) ( )
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
-------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) ( )
-------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Florida
-------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
0
SHARES ----------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
8,354,884 (see item 5)
OWNED BY ----------------------------------------------------
9 SOLE DISPOSITIVE POWER
EACH
0
REPORTING ----------------------------------------------------
10 SHARED DISPOSITIVE POWER
PERSON
8,354,884 (see item 5)
WITH
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,354,884 (see item 5)
-------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES ( )
-------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
68.1%
-------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
-------------------------------------------------------------------------------
SCHEDULE 13D
-------------------------------------------------------------------------------
CUSIP No. 0001063167 Page 8 of 17 Pages
-------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
Bankers International Financial Corporation, Ltd.
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) (X)
(b) ( )
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
-------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) ( )
-------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman
-------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
0
SHARES ----------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
8,354,884 (see item 5)
OWNED BY ----------------------------------------------------
9 SOLE DISPOSITIVE POWER
EACH
0
REPORTING ----------------------------------------------------
10 SHARED DISPOSITIVE POWER
PERSON
8,354,884 (see item 5)
WITH
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,354,884 (see item 5)
-------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES ( )
-------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
68.1%
-------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
-------------------------------------------------------------------------------
SCHEDULE 13D
-------------------------------------------------------------------------------
CUSIP No. 0001063167 Page 9 of 17 Pages
-------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
Ansbacher (Cayman) Limited , as trustee for
Bankers International Financial Corporation II Trust
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) (X)
(b) ( )
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
-------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) ( )
-------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman
-------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
0
SHARES -----------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
8,354,884 (see item 5)
OWNED BY ----------------------------------------------------
9 SOLE DISPOSITIVE POWER
EACH
0
REPORTING ----------------------------------------------------
10 SHARED DISPOSITIVE POWER
PERSON
8,354,884 (see item 5)
WITH
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,354,884 (see item 5)
-------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES ( )
-------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
68.1%
-------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
-------------------------------------------------------------------------------
SCHEDULE 13D
-------------------------------------------------------------------------------
CUSIP No. 0001063167 Page 10 of 17 Pages
-------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
Independent Foundation for the Pursuit of Charitable Endeavors,
Ltd.
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) (X)
(b) ( )
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
-------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) ( )
-------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman
-------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
0
SHARES -----------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
8,354,884 (see item 5)
OWNED BY ----------------------------------------------------
9 SOLE DISPOSITIVE POWER
EACH
0
REPORTING ----------------------------------------------------
10 SHARED DISPOSITIVE POWER
PERSON
8,354,884 (see item 5)
WITH
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,354,884 (see item 5)
-------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES ( )
-------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
68.1%
-------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
-------------------------------------------------------------------------------
Note: This Amendment No. 8 to Schedule 13D amends the Statement on
Schedule 13D dated May 24, 2002 (the "Schedule 13D"), as amended
by Amendment No. 1 dated July 19, 2002 ("Amendment No. 1"),
Amendment No. 2 dated August 8, 2002 ("Amendment No. 2"),
Amendment No. 3 dated August 16, 2002 ("Amendment No. 3"),
Amendment No. 4 dated November 25, 2002 ("Amendment No. 4"),
Amendment No. 5 dated January 10, 2003 ("Amendment No. 5"),
Amendment No. 6 dated February 3, 2003 ("Amendment No. 6") and
Amendment No. 7 dated April 15, 2003 filed on behalf of (i)
Bankers Insurance Group, Inc., a Florida corporation ("BIG"), as a
direct beneficial owner of Common Stock; (ii) Bankers Insurance
Company, a Florida corporation and wholly-owned subsidiary of BIG
("BIC"), as a direct beneficial owner of Common Stock; (iii)
Bankers Security Insurance Company, a Florida corporation and
jointly-owned subsidiary of BIG and BIC ("BSIC"), as a direct
beneficial owner of Common Stock; (iv) Bonded Builders Service
Corp., a Florida corporation and indirect, wholly-owned subsidiary
of BIG ("BBSC"), as a direct beneficial owner of Common Stock; (v)
Bankers Financial Corporation ("BFC"), Bankers International
Financial Corporation ("BIFC") and Bankers International Financial
Corporation, Ltd. ("BIFC Ltd."), all of which are Florida
corporations, except BIFC Ltd., which is a Cayman Islands
corporation, as the direct, indirect and ultimate parent
corporations, respectively, of BIG; (vi) Ansbacher (Cayman)
Limited ("Ansbacher"), as trustee of the Bankers International
Financial Corporation II Trust, a discretionary charitable trust
which includes all of the outstanding shares of BIFC Ltd.; and
(vii) Independent Foundation for the Pursuit of Charitable
Endeavors, Ltd., ("IFPCE"), a not-for-profit Cayman company, which
possesses certain discretionary powers to direct Ansbacher's
ultimate disposition of the shares of BIFC Ltd., relating to the
Common Stock (as defined in the Schedule 13D).
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer.
Item 6 of the Schedule 13D is hereby amended by adding the
following (capitalized terms used, but not otherwise defined, herein have the
meanings ascribed thereto in the Schedule 13D, as amended):
As of April 25, 2003, BIG entered into a Letter Agreement (the
"Letter Agreement") and a Stock Pledge and Security Agreement (the "Security
Agreement") in favor of Regions Bank ("Lender"). Pursuant to the terms of the
Letter Agreement, Lender has agreed to extend the forbearance period from
January 1, 2003 until January 15, 2004, previously granted in connection with
the Credit Agreement dated as of December 18, 1998 between BIG and Lender (the
"Credit Agreement"). As a condition to the Letter Agreement, BIG was required
to enter into the Security Agreement. Pursuant to the Security Agreement, BIG
delivered to Lender a stock certificate representing 2,000,000 shares of
Common Stock (the "Collateral") registered in the name of BIG as collateral
security for the payment of BIG's obligations to Lender under the Credit
Agreement. As of April 28, 2003, the outstanding principal amount under the
Credit Agreement was approximately $4,753,235. The Security Agreement grants
Lender a lien on the Collateral such that if the financial obligations of BIG
to the Lender under the Credit Agreement are not satisfied, the Lender will
have the right to appropriate or sell the Collateral, subject to the terms and
conditions of the Letter Agreement.
Under the terms of the Letter Agreement, the Lender agreed to
fully cooperate with BIG in connection with the Merger and in connection with
BIG's performance of its obligations pursuant to the Agreement to Facilitate
Merger. In addition, BIG agreed to use the proceeds from the conversion of its
Common Stock pursuant to the Merger to reduce the outstanding balance of the
loan under the Credit Agreement to such a level as Lender may require. In
addition, should BIG default under the Credit Agreement, as amended, and fail
to cure or eliminate such default, Lender agreed that (i) it shall vote the
Common Stock in the same manner as BIG votes the shares of Common Stock held
by BIG at such time, (ii) Lender shall accept $3.26 per share as the
consideration payable to it upon conversion of the Common Stock pursuant to
the Merger, (iii) Lender shall not transfer or otherwise dispose of the Common
Stock prior to the termination of the Agreement to Facilitate Merger in
accordance with its terms and (iv) Lender shall not take any actions which
would cause BIG to be in violation of the Agreement to Facilitate Merger. The
Security Agreement provides that so long as no default exists under the Credit
Agreement, BIG is entitled (A) to receive or direct payment and distribution
of dividends paid or interest earned on the Collateral and (B) to vote or to
direct the voting of the shares of Common Stock. The Collateral is to be
delivered to BIG upon performance and satisfaction in full of all of BIG's
obligations under the Credit Agreement.
The foregoing summary of certain provisions of the Security Agreement and
Letter Agreement are not a complete description of the terms and conditions of
the Security Agreement and Letter Agreement and are qualified in their
entirety by reference to the full text of the Security Agreement and Letter
Agreement which are filed herewith as Exhibits 10.5 and 10.6, respectively,
and incorporated herein by reference.
Item 7. Material to be Filed as Exhibits.
4.1 Letter from BIG to the Special Committee dated March 21,
2002 (1)
4.2 Letter from BIG to the Special Committee dated July 16, 2002
(3)
4.3 Letter from BIG to the Special Committee dated August 5,
2002 (4)
4.4 Letter from Insurance Management Solutions Group, Inc. to
Bankers Insurance Group, Inc., Bankers Insurance Company,
Bankers Security Insurance Company and Bankers Management
Corporation dated as of November 21, 2002. (6)
10.1 Agreement and Plan of Merger dated as of August 14, 2002
among Bankers Insurance Group, Inc., Bankers Insurance
Company, Bankers Security Insurance Company, Bankers
Management Corporation and Insurance Management Solutions
Group, Inc. (5)
10.2 Stock Purchase and Sale Agreement dated as of December 31,
2002 between Bankers Security Insurance Company and Bankers
Insurance Group, Inc. (7)
10.3 Agreement and Plan of Merger dated as of April 9, 2003 among
Fiserv, Inc., Fiserv Solutions, Inc., Fiserv Merger Sub,
Inc. and Insurance Management Solutions Group, Inc.
(excluding the exhibits thereto)* (9)
10.4 Agreement to Facilitate Merger dated as of April 9, 2003
among Fiserv, Inc., Fiserv Solutions, Inc., Fiserv Merger
Sub, Inc., Bankers Insurance Group, Inc., Bankers Insurance
Company, Bankers Security Insurance Company and Bonded
Builders Service Corp. (excluding the schedule thereto)*
(10)
10.5 Stock Pledge and Security Agreement dated as of April 21,
2003 by Bankers Insurance Group, Inc. in favor of Regions
Bank
10.6 Letter Agreement dated as of April 21, 2003 between Bankers
Insurance Group, Inc. and Regions Bank
99.1 Agreement of Joint Filing dated as of May 24, 2002 among
Bankers Insurance Group, Inc., Bankers Insurance Company,
Bankers Security Insurance Company, Bankers Financial
Corporation, Bankers International Financial Corporation,
Bankers International Financial Corporation, Ltd., Ansbacher
(Cayman) Limited, as trustee of the Bankers International
Financial Corporation II Trust and Independent Foundation
for the Pursuit of Charitable Endeavors, Ltd. (1)
99.2 Power of Attorney for Bankers International Financial
Corporation, Ltd. (1)
99.3 Power of Attorney for Ansbacher (Cayman) Limited, as trustee
for the Bankers International Financial Corporation II Trust
(1)
99.4 Power of Attorney for Independent Foundation for the Pursuit
of Charitable Endeavors, Ltd. (2)
99.5 Amended and Restated Agreement of Joint Filing dated as of
February 4, 2003 among Bankers Insurance Group, Inc.,
Bankers Insurance Company, Bankers Security Insurance
Company, Bonded Builders Service Corp., Bankers Financial
Corporation, Bankers International Financial Corporation,
Bankers International Financial Corporation, Ltd., Ansbacher
(Cayman) Limited, as trustee of the Bankers International
Financial Corporation II Trust and Independent Foundation
for the Pursuit of Charitable Endeavors, Ltd. (8)
(1) Incorporated by reference to the Reporting Persons' Schedule 13D
filed with the SEC on May 24, 2002.
(2) Incorporated by reference to the Reporting Persons' Schedule 13G
filed with the SEC on April 5, 2000.
(3) Incorporated by reference to the Reporting Persons' Schedule 13D-A,
Amendment No. 1, filed with the SEC on July 19, 2002.
(4) Incorporated by reference to the Reporting Persons' Schedule 13D-A,
Amendment No. 2, filed with the SEC on August 9, 2002.
(5) Incorporated by reference to the Reporting Persons' Schedule 13D-A,
Amendment No. 3, filed with the SEC on August 16, 2002.
(6) Incorporated by reference to the Reporting Persons' Schedule 13D-A,
Amendment No. 4, filed with the SEC on November 25, 2002.
(7) Incorporated by reference to the Reporting Persons' Schedule 13D-A,
Amendment No. 5, filed with the SEC on January 10, 2003.
(8) Incorporated by reference to the Reporting Persons' Schedule 13D-A,
Amendment No. 6, filed with the SEC on February 4, 2003.
(9) Incorporated by reference to Exhibit 2.1 to the Issuer's Form 8-K
filed with the SEC on April 9, 2003.
(10) Incorporated by reference to the Reporting Persons' Schedule 13D-A,
Amendment No. 7, filed with the SEC on April 15, 2003.
* The exhibits and schedules have been purposefully omitted. Copies
thereof will be furnished supplementally to the Securities and Exchange
Commission upon request.
The Index of Exhibits attached to this Statement is hereby
incorporated by reference in its entirety.
SIGNATURES
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
Dated: April 29, 2003
BANKERS INSURANCE GROUP, INC.
By: /s/ Robert G. Southey
-----------------------------
Name: Robert G. Southey
Title: Secretary
General Counsel
Vice President
BANKERS INSURANCE COMPANY
By: /s/ Robert G. Southey
-----------------------------
Name: Robert G. Southey
Title: Secretary
General Counsel
Vice President
BANKERS SECURITY INSURANCE COMPANY
By: /s/ Robert G. Southey
-----------------------------
Name: Robert G. Southey
Title: Secretary
General Counsel
Vice President
BONDED BUILDERS SERVICE CORP.
By: /s/ Edwin C. Hussemann
-----------------------------
Name: Edwin C. Hussemann
Title: Director
Vice President
BANKERS FINANCIAL CORPORATION
By: /s/ David K. Meehan
-----------------------------
Name: David K. Meehan
Title: Director
Vice Chairman
President
BANKERS INTERNATIONAL FINANCIAL
CORPORATION
By: /s/ David K. Meehan
-----------------------------
Name: David K. Meehan
Title: Director
Vice Chairman
President
BANKERS INTERNATIONAL FINANCIAL
CORPORATION, LTD.
By: /s/ David K. Meehan
-----------------------------
Name: David K. Meehan
Title: Attorney-in-fact under
Power dated 5/16/02
ANSBACHER (CAYMAN) LIMITED, AS
TRUSTEE FOR THE BANKERS
INTERNATIONAL FINANCIAL
CORPORATION II TRUST
By: /s/ David K. Meehan
-----------------------------
Name: David K. Meehan
Title: Attorney-in-fact under
Power dated 5/16/02
INDEPENDENT FOUNDATION FOR THE
PURSUIT OF CHARITABLE ENDEAVORS,
LTD.
By: /s/ David K. Meehan
-----------------------------
Name: David K. Meehan
Title: Attorney-in-fact under
Power dated 2/10/99
INDEX OF EXHIBITS
Number Description
4.1 Letter from BIG to the Special Committee dated March 21,
2002 (1)
4.2 Letter from BIG to the Special Committee dated July 16, 2002
(3)
4.3 Letter from BIG to the Special Committee dated August 5,
2002 (4)
4.4 Letter from Insurance Management Solutions Group, Inc. to
Bankers Insurance Group, Inc., Bankers Insurance Company,
Bankers Security Insurance Company and Bankers Management
Corporation dated as of November 21, 2002. (6)
10.1 Agreement and Plan of Merger dated as of August 14, 2002
among Bankers Insurance Group, Inc., Bankers Insurance
Company, Bankers Security Insurance Company, Bankers
Management Corporation and Insurance Management Solutions
Group, Inc. (5)
10.2 Stock Purchase and Sale Agreement dated as of December 31,
2002 between Bankers Security Insurance Company and Bankers
Insurance Group, Inc. (7)
10.3 Agreement and Plan of Merger dated as of April 9, 2003 among
Fiserv, Inc., Fiserv Solutions, Inc., Fiserv Merger Sub,
Inc. and Insurance Management Solutions Group, Inc.
(excluding the exhibits thereto)* (9)
10.4 Agreement to Facilitate Merger dated as of April 9, 2003
among Fiserv, Inc., Fiserv Solutions, Inc., Fiserv Merger
Sub, Inc., Bankers Insurance Group, Inc., Bankers Insurance
Company, Bankers Security Insurance Company and Bonded
Builders Service Corp. (excluding the schedule thereto)*
(10)
10.5 Stock Pledge and Security Agreement dated as of April 21,
2003 by Bankers Insurance Group, Inc. in favor of Regions
Bank
10.6 Letter Agreement dated as of April 25, 2003 between Bankers
Insurance Group, Inc. and Regions Bank
99.1 Agreement of Joint Filing dated as of May 24, 2002 among
Bankers Insurance Group, Inc., Bankers Insurance Company,
Bankers Security Insurance Company, Bankers Financial
Corporation, Bankers International Financial Corporation,
Bankers International Financial Corporation, Ltd., Ansbacher
(Cayman) Limited, as trustee of the Bankers International
Financial Corporation II Trust and Independent Foundation
for the Pursuit of Charitable Endeavors, Ltd. (1)
99.2 Power of Attorney for Bankers International Financial
Corporation, Ltd. (1)
99.3 Power of Attorney for Ansbacher (Cayman) Limited, as trustee
for the Bankers International Financial Corporation II Trust
(1)
99.4 Power of Attorney for Independent Foundation for the Pursuit
of Charitable Endeavors, Ltd. (2)
99.5 Amended and Restated Agreement of Joint Filing dated as of
February 4, 2003 among Bankers Insurance Group, Inc.,
Bankers Insurance Company, Bankers Security Insurance
Company, Bonded Builders Service Corp., Bankers Financial
Corporation, Bankers International Financial Corporation,
Bankers International Financial Corporation, Ltd., Ansbacher
(Cayman) Limited, as trustee of the Bankers International
Financial Corporation II Trust and Independent Foundation
for the Pursuit of Charitable Endeavors, Ltd. (8)
(1) Incorporated by reference to the Reporting Persons' Schedule 13D
filed with the SEC on May 24, 2002.
(2) Incorporated by reference to the Reporting Persons' Schedule 13G
filed with the SEC on April 5, 2000.
(3) Incorporated by reference to the Reporting Persons' Schedule 13D-A,
Amendment No. 1, filed with the SEC on July 19, 2002.
(4) Incorporated by reference to the Reporting Persons' Schedule 13D-A,
Amendment No. 2, filed with the SEC on August 9, 2002.
(5) Incorporated by reference to the Reporting Persons' Schedule 13D-A,
Amendment No. 3, filed with the SEC on August 16, 2002.
(6) Incorporated by reference to the Reporting Persons' Schedule 13D-A,
Amendment No. 4, filed with the SEC on November 25, 2002.
(7) Incorporated by reference to the Reporting Persons' Schedule 13D-A,
Amendment No. 5, filed with the SEC on January 10, 2003.
(8) Incorporated by reference to the Reporting Persons' Schedule 13D-A,
Amendment No. 6, filed with the SEC on February 4, 2003.
(9) Incorporated by reference to Exhibit 2.1 to the Issuer's Form 8-K
filed with the SEC on April 9, 2003.
(10) Incorporated by reference to the Reporting Persons' Schedule 13D-A,
Amendment No. 7, filed with the SEC on April 15, 2003.
* The exhibits and schedules have been purposefully omitted. Copies
thereof will be furnished supplementally to the Securities and Exchange
Commission upon request.